Loading ...Trade relations between Romania and Germany have witnessed a strong expansion over the past years, with Germany becoming Romania’s most important foreign trade partner, and analysts are saying the bilateral commercial exchanges between the two are on a continual rise.
Trade between Romania and Germany reached 14 billion euros in 2007, 6 million euros of which were Romanian exports. More than 17% of Romania’s commercial exchanges in 2007 involved Germany, a weight that continued into the first half of 2008, according to data with the Romanian National Statistics Institute (INS).
There are more that 14,000 German companies operating in Romania, with direct investments of 1.75 billion euros as of end-2007, 24% of the total foreign investment in Romania, which placed Germany second in this respect, after Austria.
There are more that 14,000 German companies operating in Romania, with direct investments of 1.75 billion euros as of end-2007, 24% of the total foreign investment in Romania, which placed Germany second in this respect, after Austria.
The areas where the most significant German investments were channelled are industry, retail trade, wholesales, research and development, transport and agriculture. At the same time, German companies invested in Romania’s energy, environmental protection and water management. The preferred location for German investments in Romania is the western part, particularly the counties of Timis and Arad.
Commercial exchanges between the two have increased by 30% each year of the past years, and analysts are expecting a similar growth rate in 2008 as well. Trade deficit was 21% favouring Germany in the first half of 2008, mainly because of massive imports of motor vehicles and other passenger transportation means.
Daily Evenimentul zilei mentions the local subsidiary of E.ON, the largest German utilities company, which in 2005 bought over Distrigaz Nord, the gas distribution corporation operating in the northern parts of Romania, as a success story of foreign investors.
Daily Evenimentul zilei mentions the local subsidiary of E.ON, the largest German utilities company, which in 2005 bought over Distrigaz Nord, the gas distribution corporation operating in the northern parts of Romania, as a success story of foreign investors.
Among the other important German companies are retail traders Metro and Kaufland, who have found in Romania a sure source for profits. Joining their ranks, according to the paper, are Continental Automotive Products, which specialises in tyre making; cement maker Holcim; ferrous metal company TMK of Resita; the Schaeffler manufactures of automobile engines, parts and accessories; Agri Concpet Europe, a trade holding management company, and real estate developer Rewe Projectentwicklung.
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